FLEX MS
Open bankruptcyA bankruptcy procedure is open for FLEX MS according to publications in the Belgian State Gazette; curator: PETER VERSTRAETEN.
Summary
The 2022 annual accounts show equity of €27k and a net result of €3k.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2022 was due by 31-07-2023 and was filed on 30-08-2023, 30 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
30 d late
2021
71 d late
2020
87 d late
2019
145 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2022, micro schema
Equity
€27k▲ 11.6%
2021 · €24k
2018: €5k
2019: €5k
2020: €21k
2021: €24k
2018 → 2022
Total assets
€124k▲ 310%
2021 · €30k
2018: €43k
2019: €43k
2020: €27k
2021: €30k
2018 → 2022
Net result
€3k▼ 11.0%
2021 · €3k
2018: €422
2019: €-12k
2020: €16k
2021: €3k
2018 → 2022
Working capital
€21k▼ 7.8%
2021 · €22k
2018: €17k
2019: €29k
2020: €23k
2021: €22k
2018 → 2022
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20182019202020212022Trend
Equity€5k-€5k▲ 12.4%€21k▲ 305%€24k▲ 14.9%€27k▲ 11.6%
Operating result€410-€-12k€17k€4k▼ 73.8%€4k▼ 5.4%
Net result€422-€-12k€16k€3k▼ 80.2%€3k▼ 11.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2022 is 5% below 2021.
Balance-sheet composition
2022 in colour, 2021 as the grey bar beneath
Assets €124k
Fixed assets
€6k ▲ 294%
Current assets
€118k ▲ 311%
Equity and liabilities €124k
Equity
€27k ▲ 11.6%
Debt
€97k ▲ 1,466%
Debt's share of the balance-sheet total rises from 20.5% to 78.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€5k▼
2021 · €5k
Cash flow
€3k▼
2021 · €4k
Current ratio
1.21▼
2021 · 4.63
Quick ratio
0.48▼
2021 · 4.63
Debt to equity
3.62▲
2021 · 0.26
ROE
10.4%▼
2021 · 13.0%
ROA
2.2%▼
2021 · 10.3%
Interest coverage
6.73▼
2021 · 86.05
Debt ≤ 1 year
€97k▲
2021 · €6k
Income taxes
€754▼
2021 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2022 against 2021 · 41 lines
Balance sheet
Code20212022
Assets
Total assets20/58€30k€124k▲
Fixed assets21/28€2k€6k▲
Tangible fixed assets22/27€941€470▼
Plant, machinery and equipment23€941€470▼
Financial fixed assets28€600€6k▲
Current assets29/58€29k€118k▲
Stocks and contracts in progress3-€71k
Stocks30/36-€71k
Amounts receivable within one year40/41€26k€42k▲
Trade receivables40€24k€34k▲
Other amounts receivable41€2k€8k▲
Cash at bank and in hand54/58€3k€4k▲
Deferred charges and accrued income490/1€82€82=
Equity and liabilities
Total equity and liabilities10/49€30k€124k▲
Equity10/15€24k€27k▲
Contributions10/11€19k€19k=
Reserves13€21€21=
Non-distributable reserves130/1€21€21=
Reserves not available under the articles1311€21€21=
Profit (loss) carried forward14€5k€8k▲
Amounts payable17/49€6k€97k▲
Amounts payable within one year42/48€6k€97k▲
Trade debts44€2k€43k▲
Suppliers440/4€2k€43k▲
Taxes, remuneration and social security45€3k€3k▲
Taxes450/3€3k€3k▲
Other amounts payable47/48€2k€51k▲
Income statement
Code20212022
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€564€470▼
Other operating charges640/8€2k€245▼
Gross operating margin9900€7k€5k▼
Operating profit (loss)9901€4k€4k▼
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€58€698▲
Recurring financial charges65€58€698▲
Profit (loss) for the period before taxes9903€4k€4k▼
Income taxes67/77€1k€754▼
Profit (loss) for the period9904€3k€3k▼
Profit (loss) for the period to be appropriated9905€3k€3k▼
Appropriation of the result
Profit (loss) to be appropriated9906€5k€8k▲
Profit (loss) brought forward from the previous period14P€2k€5k▲
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2024
07-11
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Antwerpen · FLEX MS BVBA INGENIEUR STASSTRAAT 1/GLV, 2100 DEURNE (ANTWERPEN) · event 31-10-2024
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
10-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 71 days late
2021
26-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 87 days late
2020
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 11.59
Current ratio from 3.14 to 11.59; short-term debt falls from €13k to €2k.
23-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 145 days late
18-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 506 days late
2019
31-12
Financial
Weakest financial yearnet €-12k ▼2831%
Net result drops to €-12k, the lowest in the series.
2018
25-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 56 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Ingenieur Stasstraat 1 GLV2100 AntwerpenGround area
73 m²
Building footprint
68 m²
Volume, LiDAR
614 m³
Parcel 11012A0009/00P011, Flanders · tallest building 11.2 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
FLEX MS
since 20172.263.595.958
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11012A0009/00P011 | Flanders | 73 m² | 1 · 68 m² | 11.2 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | PETER VERSTRAETEN DESGUINLEI 214,
2018 ANTWERPEN 1 |
31-10-2024 → present |
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Of 29,797 companies in sector 41001 we hold annual accounts for 16,049. 12,221 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded13-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Sources
Crossroads Bank for EnterprisesNational Bank · 6 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.